Crypto Developer's Lawsuit Dismissed, Push for Regulatory Certainty
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
In a recent ruling, a Texas federal court dismissed a lawsuit from crypto developer Michael Lewellen, who sought protection from money transmission charges for his Pharos software. The judge, citing a DOJ memo, found no real threat of prosecution, as the memo states prosecutors wont target virtual currency exchanges, mixing services, or offline wallets for user actions or unknowing rule breaks. Lewellen, however, remains concerned about liability, citing past cases like Tornado Cash and Samourai Wallet. The case was dismissed without prejudice, leaving room for Lewellen to refile with adjustments. Both Lewellen and Coin Center advocate for the Blockchain Regulatory Certainty Act of 2026 to safeguard non-custodial software creators from such laws.
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